Finance News: Latest Financial News, Finance News today in Bangladesh

Falling subsidy spending hits output of major staples

Yasir WardadThe expenditure on agricultural subsidy has declined over the past five years, resulting in the low output of major staples, experts said.The Ministry of Agriculture (MoA) stopped spending more than Tk 85 billion on farm subsidy from fiscal year (FY) 2013-14 to 2017-18, according to official statistics.The MoA showed...

Minister places bill on BADC in parliament

A bill titled 'Bangladesh Agriculture Development Corporation (BADC) Bill 2018' was placed in the Jatiya Sangsad (JS) on Tuesday, reports UNB.The bill has a provision for fines and jail term for defying BADC notices and damaging its property.Agriculture Minister Matia Chowdhury placed the bill and it was sent to the...

BD's API policy may affect Indian exports: Experts

FE ReportBangladesh's move to facilitate local pharmaceutical companies in manufacturing bulk drugs may affect Indian medicine exports, according to an Indian media report.The report published by Livemint.com on Tuesday focused on Bangladesh's policy to support local industry to manufacture active pharmaceutical ingredient (API) and laboratory reagent.On May 24, Bangladesh announced...

Matia lauds Muhith for not slashing yield rate on savings tools

Agriculture Minister Matia Chowdhury hailed Finance Minister AMA Muhith on Tuesday for not proposing reducing the yield rate on savings certificates in the national budget for the 2018-19 fiscal year, reports UNB. AMA Muhith "Though I criticise the Finance Minister every year for reducing the yield rate on savings certificates,...

CCCI hails IBBL for lowering rate of profit for investment

Our CorrespondentCHATTOGRAM, June 19: The Chittagong Chamber of Commerce and Industry (CCCI) has hailed the Islami Bank Bangladesh Ltd. (IBBL) for bringing down the rate of profit for investment to a single digit from July 1.In a statement on Tuesday, CCCI President Mahbubul Alam said the IBBL is the first...

Uber India & South Asia gets new president

Pradeep Parameswaran Uber, the world's largest ridesharing company, on Tuesday announced the appointment of Pradeep Parameswaran as its new president for India & South Asia, says a press statement. As a key member of Uber's regional leadership team, Pradeep will be responsible for leading the rides operation to new heights...

ADM, Tejara announce $520m refinancing for International Oasis

ADM Capital, working closely with Tejara Capital and Houlihan Lokey, has led a successful $520 million refinancing for International Oasis Holding Company KSCC (International Oasis).ADM Capital led a consortium of international investors including certain funds and accounts managed by Empyrean Capital Partners, LP, NatWest Markets Plc and CQS Dedicated Opportunities...